As well as helping to create a more equal society, closing the gender pay gap makes good business sense.

Closing the gender pay gap benefits employers and workers

Equality between women and men is vital for the creation of quality jobs. Introducing a gender perspective can help companies to:

recruit and retain the best employees;

create a positive work environment and gain the confidence of their employees;

make the best use of human resources and improve productivity and competitiveness;

have a better public image and higher shareholder value and a wider and more satisfied customer base.

Closing the gender pay gap gives greater profitability to the economy as a whole

Women have played a vital role in Europe's employment and economic growth and their skills and talent are necessary for the economic and social development of our societies. However, this is not reflected in their pay and position in the labour market. The undervaluing of women's work and the under-utilisation of women's skills is a lost resource for the economy and for society at large. A better use of women's skills allows them to better contribute to the economy as a whole.

Closing the gender pay gap can help to create a more equal and cohesive society. Valuing women's work and skills will motivate their performance and improve their economic independence. By increasing women's earnings throughout the lifecycle, the risk of falling into poverty will be reduced. The at-risk-of-poverty rate is around 22% for women over 65, compared to 16% of men over 65.